Amp executes BESS Connection Agreement for its Bungama Battery in South Australia

ADELAIDE, Australia, Sept. 5, 2023 Amp Energy ("Amp" or the "Company"), a global renewable energy and hydrogen developer backed by Carlyle, announced today the execution of a transmission network connection agreement ("TCA") with South Australia's high-voltage transmission network owner ElectraNet for its Bungama Battery Energy Storage System ("BESS") in Bungama, South Australia.

The 150MW / 300 MWhr TCA is expected to energise by early 2025, as the first phase of a larger Bungama BESS and Solar PV installation. Bungama BESS is the first TCA within Amp's Renewable Energy Hub of South Australia, a AUD$2 billion strategic portfolio of renewable generation and Battery Energy Storage Assets across three sites, Bungama, Robertstown and Whyalla, established in 2021.

The Bungama BESS project has entered into an Aboriginal Cultural Heritage Agreement and benefit sharing with the Nukunu Wapma Thura Aboriginal Corporation. The project is expected to create up to 70 construction jobs for up to a year and 20 ongoing jobs during operations.

"The Bungama BESS announcement emphasizes our commitment to the state of South Australia, towards its goal of achieving net zero emissions and 100% renewable energy generation by 2050," said Dean Cooper, Head of Amp Australia.

The Bungama BESS connection follows the Company's announcement in April of Amp being named as the successful bidder to develop the Cape Hardy Port Precinct, with the intent to develop and build up to 5 GW of electrolyser capacity over the next decade in the precinct, delivering over 5 million tons per annum of green ammonia and establishing South Australia as a global leader in the production of green hydrogen and ammonia.

Minister for Trade and Investment Nick Champion stated "South Australia's world-leading renewable energy reputation continues to attract significant investment into the State, especially in our regions. Projects like these not only create highly skilled jobs, they demonstrate our global standing as a leader in the green energy sector. Amp Energy joins a growing list of developers committed to South Australia's multi-billion dollar pipeline of projects – backed by the Government's dedicated global and national investment agency, Invest SA".

Minister for Energy and Mining Tom Koutsantonis said "Transmission is fundamental to a renewable generator being able to deliver energy to the customer. It's pleasing to see Amp Energy overcome this barrier by reaching this deal with ElectraNet, which will unlock investment and job creation."

Amp's expansion in South Australia will include and leverage Amp X's digital energy platform which caters for a number of interoperable offerings aimed at unlocking grid flexibility at a large scale from the edge of the grid in order to support a fully decarbonised energy system and accelerate the energy transition.

Amp X includes an Artificial Intelligence powered Virtual Power Plant capability, which enables real-time autonomous management and optimised dispatch of Battery Energy Storage assets across the grid.

Amp Energy is a well-established global energy transition development platform, which delivers renewables, battery storage, and hydrogen at scale, together with proprietary AI-enabled grid flexibility through its Amp X platform. Since its inception 14 years ago, Amp has developed and built close to 3GW of assets globally, and has another 4GW either in late-stage development or construction. Amp is backed by major investments from institutional capital partners including global private equity firm Carlyle. The company has global operations throughout North America, the UK, Australia, Japan, and Spain.

Amp X has developed a disruptive grid edge digital platform to allow all forms of distributed generation and load to make a dynamic contribution to the energy system, whether as an individual unit or as an aggregated group of assets, providing flexibility, resilience and system stability at the lowest possible cost.

SOURCE Amp Energy